The Oil and Gas Law Review - Mkono

1 TheOil and GasLaw ReviewLaw Business ResearchEditorChristopher B StrongThe Oil and Gas Law ReviewReproduced with permission from Law Business Research article was first published in The Oil and Gas Law Review , 1st edition(published in November 2013 editor Christopher B Strong).For further information please and GasLaw ReviewEditorChristopher B StrongLaw Business Research LtdThE MERgERS and aCquiSiTionS REviEwThE RESTRuCTuRing REviEwThE PRivaTE CoMPETiTion EnfoRCEMEnT REviEwThE diSPuTE RESoLuTion REviEwThE EMPLoyMEnT Law REviEwThE PuBLiC CoMPETiTion EnfoRCEMEnT REviEwThE Banking REguLaTion REviEwThE inTERnaTionaL aRBiTRaTion REviEwThE MERgER ConTRoL REviEwThE TEChnoLogy.

2 MEdia and TELECoMMuniCaTionS REviEwThE inwaRd invESTMEnT and inTERnaTionaL TaxaTion REviEwThE CoRPoRaTE govERnanCE REviEwThE CoRPoRaTE iMMigRaTion REviEwThE inTERnaTionaL invESTigaTionS REviEwThE PRojECTS and ConSTRuCTion REviEwThE inTERnaTionaL CaPiT aL MaRkETS REviEwThE REaL ESTaTE Law REviEwThE PRivaTE EquiTy REviEwThe Law EnERgy REguLaTion and MaRkETS REviEwThE inTELLECTuaL PRoPERTy REviEwThE aSSET ManagEMEnT REviEwThE PRivaTE wEaLTh and PRivaTE CLiEnT REviEwThE Mining Law REviEwThE ExECuTivE REMunERaTion REviEwThE anTi-BRiBERy and anTi-CoRRuPTion REviEwThE CaRTELS and LEniEnCy REviEwThE Tax diSPuTES and LiTigaTion REviEwThE LifE SCiEnCES L aw REviEwThE inSuRanCE and REinSuRanCE L aw REviEwThE govERnMEnT PRoCuREMEnT REviEwThE doMinanCE and MonoPoLiES REviEwThE a viaTion Law REviEwThE foREign invESTMEnT REguLaTion REviEwThE aSSET TRaCing and RECovERy REviEwThE inTERnaTionaL inSoLvEnCy REviEwThE oiL and gaS Law REviEwPuBLiShER gideon RobertonBuSinESS dEvELoPMEnT ManagERS adam Sargent, nick BaretteMaRkETing ManagERS katherine jablonowska, Thomas Lee, james Spearing.

3 Felicity BownPuBLiShing aSSiSTanT Lucy BrewerMaRkETing aSSiSTanT Chloe MclauchlanPRoduCTion CooRdinaToR Lydia gergeshEad of EdiToRiaL PRoduCTion adam MyersPRoduCTion EdiToR Caroline RawsonSuBEdiToR Charlotte StretchEdiToR-in-ChiEf Callum CampbellManaging diRECToR Richard daveyPublished in the united kingdom by Law Business Research Ltd, London87 Lancaster Road, London, w11 1qq, uk 2013 Law Business Research no photocopying: copyright licences do not information provided in this publication is general and may not apply in a specific situation, nor does it necessarily represent the views of authors firms or their clients. Legal advice should always be sought before taking any legal action based on the information provided.

4 The publishers accept no responsibility for any acts or omissions contained herein. although the information provided is accurate as of november 2013, be advised that this is a developing concerning reproduction should be sent to Law Business Research, at the address above. Enquiries concerning editorial content should be directed to the Publisher 978-1-907606-87-8 Printed in great Britain by Encompass Print Solutions, derbyshire Tel: 0844 2480 112iThe publisher acknowledges and thanks the following law firms for their learned assistance throughout the preparation of this book:BaRRERa, SiquEiRoS y ToRRES Landa, SCBEnnETT jonES LLPBM MoRRiSon PaRTnERSCga CouTo, gRa a & aSSoCiadoSCMS CaMERon MCkEnnaCuaTRECaSaS, gon aLvES PEREiRagRandaLL Law fiRMkvaLE advokaTfiRMa daLoyEnS & LoEff nvMaTToS fiLho, vEiga fiLho, MaRREy jR E quiRoga advogadoSMEna aSSoCiaTES in aSSoCiaTion wiTh aMERELLER LEgaL ConSuLTanTSMinTER ELLiSonMkono & Co advoCaTESPiLLSBuRy winThRoP Shaw PiTTMan LLPRPS gRouP LTd Eng LER & Eng LER Law offiCESu REz zaPaTa & PaRTnERS aBogadoS SaSacknOwLedGemenTsuChE nwokEdi & CovinSon & ELkinS LLPwEBBER wEnTzEL in aLLianCE wiTh LinkLaTERSwEngER & viELi LTdiiiEditor s Preface.

5 ViiChristopher B StrongChapter 1 auSTRaLia ..1 Sam MacGibbon, Paul Wentworth and Sam JaffrayChapter 2 azERBaijan ..23 Aykhan I AsadovChapter 3 BRaziL ..33 Giovani Loss, Felipe Feres and Nilton MattosChapter 4 Canada ..44 Donald E Greenfield, Vivek T A Warrier, Darcy Moch, Wally Braul, Milos Barutciski, Simon Foxcroft, Vasilis F L Pappas and Kim Kapesi-MillerChapter 5 China ..57 Weidong Wang and Tao ZhuChapter 6 V ZapataChapter 7 iRaq ..80 Christopher B StrongChapter 8 iRaqi kuRdiSTan ..92 Daniel Heintel and Dahlia ZamelChapter 9 MasseycOnTenTsivContentsChapter 10 MExiCo ..123 Carlos Ramos Miranda and Miguel ngel Mateo Sim nChapter 11 MozaMBiquE ..134 Jorge Gra a, Taciana Pe o Lopes, Paulo Ferreira and M rcio PauloChapter 12 nEThERLandS.

6 147 Elisabetta AartsChapter 13 nigERia ..170 Uche NwokediChapter 14 n o Rway ..178 Yngve Bustnesli and Simen Skaar KristoffersenChapter 15 PoRTugaL ..189 Rui Mayer, Diogo Ortig o Ramos, Ana Isabel Marques and Bruno Neves de SousaChapter 16 RuSSia ..202 Natalya Morozova and Rob PattersonChapter 17 SouTh afRiCa ..213 Manus Booysen, John Smelcer, Hennie Bester, Keith Veitch, Jonathan Veeran and Garyn RapsonChapter 18 SwiTzERLand ..231 Andreas Huenerwadel and Beat SpeckChapter 19 Tanzania ..243 Wilbert B Kapinga and Angela ThornsChapter 20 TuRkEy ..258 Jonathan W Blythe, Nihan Kisi and Esin ErkalChapter 21 uniTEd kingdoM ..267 Penelope Warne and Norman WiselyvContentsChapter 22 uniTEd STaTES: CaLifoRnia.

7 280 Robert A JamesAppendix 1 aBouT ThE auThoRS ..291 Appendix 2 ConTRiBuTing Law fiRMS ConTaCT dETaiLS .. 309viiediTOR s PRefacei am very pleased to have been able to take part in this first edition of The Oil and Gas Law Review . This publication is intended to be a practical analysis of recent developments around the globe in this exciting industry. My hope is that it will serve as a valuable resource to attorneys in private practice, in in-house positions, in government service and in academia who are seeking to keep abreast of legal developments on the oil and gas from leading oil and gas practitioners around the world has been gathered for The Oil and Gas Law Review .

8 The publication is divided into 22 chapters, each addressing legal issues in a particular jurisdiction. our goal in selecting these jurisdictions was to ensure that most of the major oil and gas producing regions were represented. although the oil and gas business is a global one, laws and regulations vary significantly from jurisdiction to jurisdiction, and sometimes even between states or regions of a particular jurisdiction. for practitioners within the oil and gas industry, keeping up with global legal developments is a constant effort. By gathering recent and insightful information from the world s major oil and gas jurisdictions this book will be a major step in addressing this the past several years, a number of major trends have emerged in the global oil and gas industry.

9 The first and undoubtedly most important of these is the growing importance of unconventional resources to the global oil and gas industry. The shale boom that started in north america and is slowly starting to spread to other parts of the world has upended the industry. The united States looks set to shortly becoming a net exporter of petroleum for the first time in decades, and other jurisdictions are seeking to emulate its success. at the same time, lawmakers and regulators, particularly those in jurisdictions that are unused to large-scale onshore exploration and production activities, are struggling with how best to address the inherent environmental issues.

10 The struggle with how to effectively balance the benefits of increased domestic production of petroleum with the perceived environmental risks of fracking will no doubt occupy the attention of lawmakers, regulators and lawyers for many s PrefaceviiiA second emerging trend is the opening (or reopening) of new jurisdictions to oil and gas exploration and production activities. Jurisdictions such as Tanzania and Mozambique, which just a few years ago received scant attention from international oil and gas companies, are now receiving significant attention, with major gas finds seemingly announced on a monthly basis.